Cava: Q2 Earnings Snapshot

WASHINGTON (AP) — WASHINGTON (AP) — Cava Group Inc. (CAVA) on Thursday reported second-quarter net income of $19.7 million.

On a per-share basis, the Washington-based company said it had profit of 17 cents.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The Mediterranean restaurant chain posted revenue of $233.5 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $222 million.

Cava shares have more than doubled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $102.32, more than doubling in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAVA at https://www.zacks.com/ap/CAVA